Exhibit 8.1

List of Consolidated Entities of Noah Holdings Limited



|                                                              |  |                               |  |                                           
|------------------------------------------------------------- |  | ----------------------------- |  | ------------------------------------------
|Name                                                          |  | Jurisdiction of
Incorporation |  | Affiliate Relationship with
the Registrant
|Shanghai Noah Rongyao Investment Consulting Co., Ltd.         |  | China                         |  | Wholly-owned subsidiary                   
|                                                              |  |                              
|Tianjin Noah Wealth Management Consulting Co., Ltd.           |  | China                         |  | Wholly-owned subsidiary                   
|                                                              |  |                              
|Shanghai Noah Yuanzheng Investment Consulting Co., Ltd.       |  | China                         |  | Wholly-owned subsidiary                   
|                                                              |  |                              
|Shanghai Rongyao Information Technology Co., Ltd              |  | China                         |  | Wholly-owned subsidiary                   
|                                                              |  |                              
|Kunshan Noah Xingguan Investment Management Co., Ltd          |  | China                         |  | Wholly-owned subsidiary                   
|                                                              |  |                              
|Noah Private Wealth Management (Hong Kong) Limited            |  | Hong Kong                     |  | Wholly-owned subsidiary                   
|                                                              |  |                              
|Noah Holdings (Hong Kong) Limited                             |  | Hong Kong                     |  | Wholly-owned subsidiary                   
|                                                              |  |                              
|Shanghai Noah Investment Management Co., Ltd.                 |  | China                         |  | Variable interest entity                  
|                                                              |  |                              
|Shanghai Noah Rongyao Insurance Brokerage Co., Ltd.           |  | China                         |  | Variable interest entitys subsidiary     
|                                                              |  |                              
|Noah Upright (Shanghai) Fund Investment Consulting Co., Ltd.* |  | China                         |  | Variable interest entitys subsidiary     
|                                                              |  |                              
|Tianjin Gefei Asset Management Co., Ltd.                      |  | China                         |  | Variable interest entitys subsidiary     
|                                                              |  |                              
|Gefei Asset Management Co., Ltd.                              |  | China                         |  | Variable interest entitys subsidiary     



|* | Formerly known as Shanghai Noah Investment Consulting Co., Ltd., which name change occurred on February 27, 2012.
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